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| | Global Floating Solar Panel Industry was valued at USD 163.20 Million in the year 2017. Global Floating Solar Panel Industry is further projected to grow at a CAGR of 35.42% from 2017 to reach USD 1847.69 Million by the year 2025. Asia Pacific region holds the highest Industry share in 2017 and Asia Pacific Industry is considered as the fastest growing Industry in the forecasted period. At country level China, Japan and India hold the highest Industry share in 2016 and it is projected to grow at a strongly in the coming years.<ref name="https://bit.ly/30bXIl2">https://bit.ly/30bXIl2</ref><br/> | | Global Floating Solar Panel Industry was valued at USD 163.20 Million in the year 2017. Global Floating Solar Panel Industry is further projected to grow at a CAGR of 35.42% from 2017 to reach USD 1847.69 Million by the year 2025. Asia Pacific region holds the highest Industry share in 2017 and Asia Pacific Industry is considered as the fastest growing Industry in the forecasted period. At country level China, Japan and India hold the highest Industry share in 2016 and it is projected to grow at a strongly in the coming years.<ref name="https://bit.ly/30bXIl2">https://bit.ly/30bXIl2</ref><br/> |
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| − | <br/>Major market players- in Floating Solar Panel Industry are Solaris Synergy, Sharp Corporation, Trina Solar, Yingli Solar, Pristine Sun LLC, Sino Group, KYOCERA Corporation, ITOCHU Corporation, Hanwha Group, Wuxi Suntech Power Co. Ltd., Mitsubishi Electric Corporation, JA SOLAR Co. Ltd. also other 12 companies detailed information in provided in research report.<ref name="https://bit.ly/30bXIl2">https://bit.ly/30bXIl2</ref> | + | <br/>Major market players- in Floating Solar Panel Industry are Solaris Synergy, Sharp Corporation, Trina Solar, Yingli Solar, Pristine Sun LLC, Sino Group, KYOCERA Corporation, ITOCHU Corporation, Hanwha Group, Wuxi Suntech Power Co. Ltd., Mitsubishi Electric Corporation, JA SOLAR Co. Ltd. also other 12 companies detailed information in provided in research report.<ref name="https://bit.ly/30bXIl2">https://bit.ly/30bXIl2</ref><br/> |
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| | + | Floating solar photovoltaic (PV) installations open up new opportunities for scaling up solar generating capacity, especially in countries with high population density and competing uses for available land. They have certain advantages over land-based systems, including utilization of existing electricity transmission infrastructure at hydropower sites, close proximity to demand centers (in the case of water supply reservoirs), and improved energy yield thanks to the cooling effects of water and the decreased presence of dust. The exact magnitude of these performance advantages has yet to be confirmed by larger installations, across multiple geographies, and over time, but in many cases they may outweigh any increase in capital cost. <ref name="World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf">World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf</ref><br/> |
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| | == SWOT == | | == SWOT == |
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| − | Strength: Low operation and maintenance cost Rising need for renewable energy <br/> | + | Strength: Low operation and maintenance cost Rising need for renewable energy<br/> |
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| − | Weakness: Expensive and delicate <br/> | + | Weakness: Expensive and delicate<br/> |
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| − | Opportunities: Decrease of evaporation <br/> | + | Opportunities: Decrease of evaporation<br/> |
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| − | Threats: The availability of solar radiation can differ depending on location | + | Threats: The availability of solar radiation can differ depending on location |
| | | | |
| | == Technological Features<br/> == | | == Technological Features<br/> == |
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| | The Global Solar Floating Panel is segmented by product type, by connectivity, by location, and by region in the forecasted period. The major shares of the Industry come from Stationary in Global Floating Solar Panel Industry. On the other hand, On-Grid type for this Industry is expected to grow at the highest CAGR during the year 2018-2025.<ref name="https://bit.ly/30bXIl2">https://bit.ly/30bXIl2</ref> | | The Global Solar Floating Panel is segmented by product type, by connectivity, by location, and by region in the forecasted period. The major shares of the Industry come from Stationary in Global Floating Solar Panel Industry. On the other hand, On-Grid type for this Industry is expected to grow at the highest CAGR during the year 2018-2025.<ref name="https://bit.ly/30bXIl2">https://bit.ly/30bXIl2</ref> |
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| − | Request For <span style="font-family: Roboto, sans-serif; font-size: 17px; text-align: justify; background-color: rgb(255, 255, 255)">[https://bit.ly/30bXIl2 Free Sample and Table of Content for this report]</span><br/> | + | Request For <span style="font-family: Roboto, sans-serif; font-size: 17px; text-align: justify; background-color: rgb(255, 255, 255)">[https://www.kennethresearch.com/sample-request-10078989?utm_source=energypedia&utm_medium=Avi Free Sample and Table of Content for this report](Note: not open source! This link brings you to a report to be paid; by a global market research reselling firm, Kenneth Research)</span> |
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| | By Product Type Stationary Floating Solar Panels Tracking Floating Solar Panels By Connectivity On Grid Floating Solar Panel Off-Grid Floating Solar Panel By Location On-Shore Floating Solar Panel Off-Shore Floating Solar Panel | | By Product Type Stationary Floating Solar Panels Tracking Floating Solar Panels By Connectivity On Grid Floating Solar Panel Off-Grid Floating Solar Panel By Location On-Shore Floating Solar Panel Off-Shore Floating Solar Panel |
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| − | By Region North America • USA • Canada Europe • Germany • U.K. • France • Italy • Rest of Europe APAC • China • India • Japan • Rest of Asia-Pacific RoW • Latin America • Middle East & Africa<ref name="https://bit.ly/30bXIl2">https://bit.ly/30bXIl2</ref> | + | By Region North America • USA • Canada Europe • Germany • U.K. • France • Italy • Rest of Europe APAC • China • India • Japan • Rest of Asia-Pacific RoW • Latin America • Middle East & Africa<ref name="https://bit.ly/30bXIl2">https://bit.ly/30bXIl2</ref><br/> |
| − | <br/> | + | |
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| | + | = <br/>Market Opportunities<br/> = |
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| − | <br/> | + | == Potential<ref name="World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf">World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf</ref> == |
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| | + | *theoretical potential: a terawatt scale, purely from the perspective of the available surface area = more than 400,000 square kilometers (km2) of man-made reservoirs in the world |
| | + | *There are individual dams on each continent that could theoretically accommodate hundreds of mega-watts or, in some cases, gigawatts of floating solar installations. |
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| | + | == Capital costs<ref name="World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf">World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf</ref> == |
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| | + | *Capital costs of floating PV are still slightly higher or comparable to those of ground-mounted PV, in 2018 generally ranging between USD 0.8–1.2 per Wp depending on location. |
| | + | *However, the levelized cost of electricity (LCOE) for a generic 50 MW floating PV system does not differ significantly from that of a ground-mounted system. |
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| | + | == Challenges<ref name="World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf">World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf</ref> == |
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| | + | *lack of a robust track record; |
| | + | *uncertainty surrounding costs; |
| | + | *uncertainty about predicting environmental impact; |
| | + | *and the technical complexity of designing, building, and operating on and in water (especially electrical safety, anchoring and mooring issues, and operation and maintenance). |
| | + | *lack of clarity on licensing/permitting (especially concerning water rights and environmental impact assessment); |
| | + | *difficulties in selecting qualified suppliers and contractors; |
| | + | *difficulties in designing insurance policies that include liabilities for potential damage of the hydro plant; |
| | + | *and uncertainties about the adequacy of warranties of the performance or reliability of critical components. |
| | + | |
| | + | In most countries, the policy and regulatory framework needs to be adjusted. |
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| | + | == World Bank planed free publications<ref name="World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf">World Bank Group, ESMAP and SERIS. 2018. Where Sun Meets Water: Floating Solar Market Report—Executive Summary. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/579941540407455831/pdf/Floating-Solar-Market-Report-Executive-Summary.pdf</ref> == |
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| | + | Publications and tools planned for the Where Sun Meets Water series are: |
| | + | |
| | + | *A floating solar market report |
| | + | *A floating solar handbook for practitioners |
| | + | *Global mapping of floating solar potential (a geo-spatial tool) |
| | + | *Proposed technical designs and project structuring for hydro-connected solar |
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| | = Further Information<br/> = | | = Further Information<br/> = |
| | | | |
| | *[https://en.wikipedia.org/wiki/Floating_Solar Floating solar - Wikipedia]<br/> | | *[https://en.wikipedia.org/wiki/Floating_Solar Floating solar - Wikipedia]<br/> |
| − | *[[Publication_-_Where_Sun_Meets_Water_-_Floating_Solar_Market_Report|Publication - Where Sun Meets Water - Floating Solar Market Report]] | + | *[[Publication - Where Sun Meets Water - Floating Solar Market Report|Publication - Where Sun Meets Water - Floating Solar Market Report]] |
| − | *[[File:LCEDN_2018_Frontier_Technical_MARLIN_Modular_Floating_Platform.pdf|File:LCEDN 2018 Frontier Technical MARLIN Modular Floating Platform.pdf]] | + | *[[File:LCEDN 2018 Frontier Technical MARLIN Modular Floating Platform.pdf|180px|File:LCEDN 2018 Frontier Technical MARLIN Modular Floating Platform.pdf|alt=File:LCEDN 2018 Frontier Technical MARLIN Modular Floating Platform.pdf]] |
| − | *[[Solar_Energy_Reduces_Costs_on_Farms_in_Brazil|Solar Energy Reduces Costs on Farms in Brazil]] | + | *[[Solar Energy Reduces Costs on Farms in Brazil|Solar Energy Reduces Costs on Farms in Brazil]] |
| | | | |
| | = References<br/> = | | = References<br/> = |
Global Floating Solar Panel Industry was valued at USD 163.20 Million in the year 2017. Global Floating Solar Panel Industry is further projected to grow at a CAGR of 35.42% from 2017 to reach USD 1847.69 Million by the year 2025. Asia Pacific region holds the highest Industry share in 2017 and Asia Pacific Industry is considered as the fastest growing Industry in the forecasted period. At country level China, Japan and India hold the highest Industry share in 2016 and it is projected to grow at a strongly in the coming years.[1]
Floating solar photovoltaic (PV) installations open up new opportunities for scaling up solar generating capacity, especially in countries with high population density and competing uses for available land. They have certain advantages over land-based systems, including utilization of existing electricity transmission infrastructure at hydropower sites, close proximity to demand centers (in the case of water supply reservoirs), and improved energy yield thanks to the cooling effects of water and the decreased presence of dust. The exact magnitude of these performance advantages has yet to be confirmed by larger installations, across multiple geographies, and over time, but in many cases they may outweigh any increase in capital cost. [2]
The Global Solar Floating Panel is segmented by product type, by connectivity, by location, and by region in the forecasted period. The major shares of the Industry come from Stationary in Global Floating Solar Panel Industry. On the other hand, On-Grid type for this Industry is expected to grow at the highest CAGR during the year 2018-2025.[1]
By Product Type Stationary Floating Solar Panels Tracking Floating Solar Panels By Connectivity On Grid Floating Solar Panel Off-Grid Floating Solar Panel By Location On-Shore Floating Solar Panel Off-Shore Floating Solar Panel
By Region North America • USA • Canada Europe • Germany • U.K. • France • Italy • Rest of Europe APAC • China • India • Japan • Rest of Asia-Pacific RoW • Latin America • Middle East & Africa[1]
